Good morning from Denver.
Volatility as an asset class;
Applied Materials (AMAT) is up 1c to $11.17 in the premarket after announcing a 6%-9% global workforce reduction. Overall option implied volatility of 28 is near its 26-week average.
NuVasive (NUVA) is down $6.79 to $15.83 in the premarket after lowering its Q3 revenue outlook. Overall option implied volatility of 52 is near its 26-week average of 53.
Marriott (MAR) is recently up 70c to $39.70 in the premarket on better than expected Q3 results and guidance. Overall option implied volatility of 30 is near its 26-week average of 28.
CBOE Volatility Index (VIX) closed at 15.43, above its 10-day moving average of 15.24 and below its 50-day MA of 15.78.
Calls with increasing volume at CBOE;
QQQ 10/20/2012 72 21K contracts
PSX 11/17/2012 49 12K
SPY 11/17/2012 149 10K
BAC 10/20/2012 10 9K
DIA 11/17/2012 138 9K
AAPL 10/5/2012 670 8K
U.S. stocks are higher into Friday’s September U.S. employment report. Weekly claims were higher but beat estimates slightly. Previous weeks were revised a little higher. Talking heads discussing results of US Presidential Debate last night. Gov. Romney getting good grades on his performance.
FB up ~2% as it hits it’s 1 Billionth user. Europe talking progress…. again.
Interesting CBOE blog by Joe Cusick last night (see previous blog). It’s all in the title – “Article 5” – meaning Article 5 of NATO pact – any attack on a member (Syria firing on Turkey, a NATO member) is an attack on all members. European and US markets ignoring border shooting – so far.